Trump said on Tuesday that he would impose a 50% tariff on copper. Though the remarks were light on specifics, his comments sent the metal to all-time highs.

Prices for the metal hit a record high after the president suggested a higher rate than many analysts were expecting.

Former U.S. President Donald Trump has announced new tariffs on copper imports and goods from Brazil, citing national security concerns. The decision has sparked concerns of a trade war, particularly with Brazil,